The top 10 performing stocks last week were the shares of Fidelity bank plc, National Aviation handling Company, NAHCo Plc, Zenith International Bank Plc, Oando plc, Guaranty Trust Bank Plc and United Bank for Africa, UBA Plc. The rest were International Breweries Plc, UACN Property Development Co. Plc, Glaxosmithkline Consumer Nig. Plc and National Salt Company, NASCON Plc.
Fidelity Bank Plc came tops on the list, rising by huge 38 percent or N0.57 price appreciation to close at N2.07 from N1.50. Just like other bank that have been churning out their results, Fidelity Bank last week released its 2014 full year financial report and account, which showed an impressive performance in key financial indicators along with declaration of 18 kobo dividends. According to market watchers, the impressive result just announced has been propelling the interest in the stock.
For instance, the bank announced 72 percent growth in its profit before tax from N9.028 billion recorded in 2013 to N15.5 billion. Similarly, the profit after tax increased by 79 percent to N13.796 billion from N7.271 billion in 2013. The bank’s interest income also increased by 21 percent to N104.3 billion in the year under review, as against the N86.3 billion recorded in the same period in 2013.
NAHCo, related services listed equity, trailed behind with 33.93 percent or N1.71 gains to close at N6.75 from N5.04. Last year, Global Credit Ratings affirmed the long term and short term national scale Issuer ratings assigned to NAHCo of A-(NG) and A2(NG) respectively with the outlook accorded as stable. Concurrently, GCR affirmed each of the Senior Unsecured Series 1 and Series 2 Bond ratings at A-(NG), with a stable outlook.
The rating(s) are valid until September 2015.GCR claimed the rating was accorded the company due to its ability to maintain a leading position in the domestic aviation services and cargo handling sectors, servicing more than 30 passenger and cargo carriers across seven Nigerian airports. The company recently released its 2014 full year financial statement with 20kobo dividend to cheer the shareholders. It recorded marginal increase in revenue to N8.133 billion from N8.09 billion in 2013. However, the profit after tax nose-dived to N568 million from N817 million in 2013, representing 43.8 percent decrease.
Zenith Bank, which was one of the early quoted companies to submit their 2014 financial statement, followed with 32.93 percent or N6.15 appreciation, closing at N25.05 from N18.90 per share. Due its compliance to early submission of the result, the Nigerian Stock Exchange, NSE, accorded it recognition as one of the companies that imbibe high ethics of corporate governance. The bank posted 14.76 percent growth in its gross earnings for the year ended December 31, 2014 from N351.5 billion in 2013 to N403.3billion. Its profit before tax rose by 12.8 percent to N120 billion compared to N106 billion posted in the previous year, while the profit after tax rose by 8.6 percent to N99.5 billion from N91.5 billion achieved during the year ended 31 December 2014.
Oando’s shares appreciated by 31.34 percent or N4.20 to close at N17.60 from N13.40;
GTBank advanced by 30.87 percent or N7.52 to close at N31.88 from N24.36 per share;
UBA followed by 29.82 percent or N1.13 increase to close at N4.92 from N3.79;
International Breweries went up by 27.06 percent or N4.87 to close at N22.87 from N18.00;
UACN Property Development rose by 24.32 percent or N2.23 to close at N11.40 from N9.17;
GSK advanced by 21.52 percent.